Heritage Auctions

[E93]

It creates a false market with false prices realized. In the case of the program above, if Heritage is in fact "the owner", it is misleading in that respect as well.
JimB

[E93]

Someone was kind enough to send me a link to their rules. Here is rule #21. It does not seem fair to me. So I guess it is not just the auction house and its employees that can bid and modify bids with insider information, but anybody that they deem an "affiliate".
JimB

"21. The Auctioneer, its affiliates, or their employees consign items to be sold in the Auction, and may
bid on those lots or any other lots. Auctioneer or affiliates expressly reserve the right to modify
any such bids at any time prior to the hammer based upon data made known to the Auctioneer
or its affiliates. The Auctioneer may extend advances, guarantees, or loans to certain consignors."

[HRBAKER]

So the question becomes if you don't like it, do you still patronize them? It's not like they aren't telling you they reserve the right to do these things. Again, not defending the practice but complaining about it and continuing to bid with them doesn't seem to accomplish much.

[Bocabirdman]

Originally Posted by E93

It creates a false market with false prices realized. In the case of the program above, if Heritage is in fact "the owner", it is misleading in that respect as well.
JimB

This reminds me of the urban legend about a handful of NY vendors selling 1952 Topps Mantles back and forth amongst themselves inflating the Mantle price back in the 1970's

[Jaybird]

[E93]

Jason,
You crack me up. But the silence is deafening. What are we to presume by this?
JimB

[jefferyepayne]

Scene from a Few Good Auctions

HA: You want answers?
Kaffee (Tom Cruise): I think I'm entitled to them.
HA: You want answers?
Kaffee: I want the truth!
HA: You can't handle the truth! Son, we live in a world that has auctions. And those auctions have to be run by men with no values. Who's gonna do it? You Mr. Moderator? You Mr. Collector? I have a greater responsibility than you can possibly fathom. You weep for cards you can't afford and you curse the auction houses for having them. You have that luxury. You have the luxury of not knowing what I know: that by cheating collectors, while tragic, probably saved lives. And my existence, while grotesque and incomprehensible to you, saves lives...You don't want the truth. Because deep down, in places you don't talk about at parties, you want me to run that auction. You need me to run that auction.
We use words like house accounts, consignments, buyer's premium...we use these words as the backbone to a life spent cheating everybody. You use 'em as a punchline. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the blanket of the very auctions I provide, then questions the manner in which I provide it! I'd rather you just said thank you and went on bidding on my cards. Otherwise, I suggest you pick up your collect and go home. Either way, I don't give a damn what you think you're entitled to!
Kaffee: Did you order the shill bidding?
HA: (quietly) I did the job I was asked to do.
Kaffee: Did you order the shill bidding?
HA: You're goddamn right I did!!

Case closed.

jeff

[E93]

Jeff,
Absolutely hilarious!
JimB

[WillowGrove]

Originally Posted by E93

Jeff,
Absolutely hilarious!
JimB

+1

I've been attending auctions since the 70s. The rules and dynamics are in my blood and I am shocked that these guys are doing this. Of course I shouldn't be shocked by anything in this day and age but you know what i mean. Who do these guys think they're fooling? Its not right and they should know that.

And again, movie scene.....hysterical. And true.

[Wymers Auction]

Originally Posted by jefferyepayne

Scene from a Few Good Auctions

HA: You want answers?
Kaffee (Tom Cruise): I think I'm entitled to them.
HA: You want answers?
Kaffee: I want the truth!
HA: You can't handle the truth! Son, we live in a world that has auctions. And those auctions have to be run by men with no values. Who's gonna do it? You Mr. Moderator? You Mr. Collector? I have a greater responsibility than you can possibly fathom. You weep for cards you can't afford and you curse the auction houses for having them. You have that luxury. You have the luxury of not knowing what I know: that by cheating collectors, while tragic, probably saved lives. And my existence, while grotesque and incomprehensible to you, saves lives...You don't want the truth. Because deep down, in places you don't talk about at parties, you want me to run that auction. You need me to run that auction.
We use words like house accounts, consignments, buyer's premium...we use these words as the backbone to a life spent cheating everybody. You use 'em as a punchline. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the blanket of the very auctions I provide, then questions the manner in which I provide it! I'd rather you just said thank you and went on bidding on my cards. Otherwise, I suggest you pick up your collect and go home. Either way, I don't give a damn what you think you're entitled to!
Kaffee: Did you order the shill bidding?
HA: (quietly) I did the job I was asked to do.
Kaffee: Did you order the shill bidding?
HA: You're goddamn right I did!!

Case closed.

jeff

This is one of the funniest things I have read on here!!!!